Bayesian Capital Management LP Buys 38,500 Shares of The AES Co. (NYSE:AES)

Bayesian Capital Management LP raised its position in shares of The AES Co. (NYSE:AES) by 255.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,600 shares of the utilities provider’s stock after purchasing an additional 38,500 shares during the quarter. Bayesian Capital Management LP’s holdings in AES were worth $961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in AES in the 1st quarter worth about $33,000. Glassman Wealth Services boosted its stake in shares of AES by 186.1% in the 4th quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock worth $37,000 after buying an additional 1,254 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 1,088 shares during the period. Principal Securities Inc. bought a new position in AES in the fourth quarter valued at about $57,000. Finally, Allworth Financial LP grew its stake in shares of AES by 133.7% during the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,779 shares during the period. Institutional investors own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AES shares. Mizuho boosted their price objective on shares of AES from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Seaport Res Ptn cut shares of AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Barclays dropped their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. UBS Group lowered their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of AES in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.75.

AES Price Performance

AES traded up $0.43 during trading hours on Wednesday, hitting $17.98. The company’s stock had a trading volume of 655,992 shares, compared to its average volume of 8,042,865. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 24.38 and a beta of 1.08. The business’s 50-day moving average price is $18.90 and its 200-day moving average price is $17.81. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04. The AES Co. has a 12 month low of $11.43 and a 12 month high of $22.21.

AES (NYSE:AES) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.20 billion. AES had a return on equity of 36.23% and a net margin of 4.40%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. Sell-side analysts expect that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.1725 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.69 annualized dividend and a dividend yield of 3.84%. AES’s dividend payout ratio (DPR) is presently 95.83%.

AES Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.